When associate raises were sweeping through Biglaw this summer, Wiley Rein associates were left out in the cold. But the powers that be at the firm were watching the market, and finally decided to make a move on base compensation.
Wiley announced that salaries for junior associates would be increased to the prevailing market rates, telling associates: “First-through third-year associates will earn $190,000, $200,000 and $220,000, respectively.” As for midlevel and senior associates, their compensation fate will not be determined on a lockstep basis, and each of those associates will receive individualized information about their own salary as well as their bonuses.
Though Wiley is only formally setting market salaries for junior associates, tipsters at the firm feel pretty good about their chances of getting market salaries:
Product Spotlight: Lexis® Verdict & Settlement Analyzer
Put away the guesswork—Lexis® Verdict & Settlement Analyzer helps legal professionals assess case potential with confidence by using data-driven insights from the industry’s largest collection of verdicts and settlements.
Anecdotally, most midlevel/senior associates are at or around market, so the interpretation of this discussed among the associates of this is that those salaries will go up too
The raises will be effective January 1, 2019, a full six months after Milbank’s raises went into effect, but it’s better late than never.
The full memo from the firm is on the next page.
Everyone should remember that we still depend on your tips to stay on top of raises. So when your firm matches, please text us (646-820-8477) or email us (subject line: “[Firm Name] Raises Salaries”). Please include the memo if available. You can take a photo of the memo and send it via text or email if you don’t want to forward the original PDF or Word file.
Context Windows In Legal AI And Why Content Still Determines Quality
Legal teams ask a practical question. If large language models are so capable, why does legal AI still depend on curated content, and why does surfacing that content matter so much?
Don’t assume someone else has already emailed us. We’ll gladly take redundant emails over no information at all.
And if you’d like to sign up for ATL’s Bonus Alerts (which is the alert list we’ll also use for salary announcements), please scroll down and enter your email address in the box below this post. If you previously signed up for the bonus alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each bonus announcement that we publish. Thanks!
Kathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).